GEVO BUYS AGRI-ENERGY ETHANOL PLANT Renewable chemicals and advanced biofuels company Gevo will acquire Agri-Energy's ethanol production facility in Luverne, Minn.
Gevo, which intends to use the facility to produce isobutanol, will begin mechanical retrofitting of the plant upon closing the transaction. Isobutanol production is expected to begin by the first quarter of 2012. During most of the retrofit process, it is expected that the facility will continue to produce ethanol.
"This transaction is another important step in achieving our goal of bringing commercial volumes of renewable isobutanol to the market as soon as possible," said Dr. Patrick Gruber, CEO of Gevo. "The Luverne plant is a very well run facility with a strong operating team. It is a great place to begin our commercialization effort. We expect the facility will be the first among many and want it to be a model project for the future."
Gevo has developed a proprietary process designed to fit into current ethanol production facilities. The process also enables the production of isobutanol from numerous renewable feedstocks including corn, wheat, sorghum, barley, sugar cane and cellulosic feedstocks when biomass conversion becomes commercially available.